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Web3 Ventures Swarm to Accelerators Amid Spikes in Crypto Enthusiasm

Helika, an infrastructure provider for Web3 gaming, disclosed its partnership with Pantera, Sfermion, Spartan Capital, and VCs.

Jay Hicks

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The crypto world has been making considerable progress in the recent months. Amid the rising enthusiasm around crypto endeavors, certain Web3 ventures are pursuing benefits via accelerator programs as they offer guidance and mentorship for primary equity. San Francisco-based Y Combinator possesses a significant place and boasts many crypto entities such as OpenSea and Coinbase.

Web3 Ventures Join Accelerators in Great Numbers Amid Crypto Enthusiasm Spikes

In recent days, a prominent tech VC company a16z disclosed the plan for a crypto venture accelerator this year. It has selected twenty-five startups that will go through a 10-week mentorship project in London.

Jason Rosenthal, an operating partner of the company, released a list including the projects. They include zero-knowledge passport validation, decentralized delivery of food, and Farcaster infrastructure. The platform a16z has reportedly allocated $500K for the startups existing in the accelerator for equity of seven percent.

Alumni take into account Phantom and Flashbots. A few days back, the organization at the back of Avalanche (an L1 blockchain) unveiled the initial startup set. They are a part of the new accelerator named “Codebase.”

Also Read: Exponential.fi Report: DeFi Ecosystem Matures with Rational Growth

The investments range between $500,000 and $1M for each startup through a decentralized VC forum Colony Lab. Helika, an infrastructure provider for Web3 gaming, disclosed its partnership with Pantera, Sfermion, Spartan Capital, and VCs. The respective collaboration intends to specify almost $50M for ventures that take part in the latest gaming accelerator.

1ks and Hack VC Accomplishe $75M and $150M Fundraising Respectively

As the VC sector’s activity is going through a resurgence, “1kx” (a crypto-local venture entity) revealed an oversubscribed fundraising of $75M. In addition to this, Hack VC concluded a funding round of up to $150M last month. Symbolic Capital’s principal Sam Lehman stressed that resilient crypto accelerators are crucial in promoting community within the Web3 sector.

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